(Reuters) - The Cleveland Cavaliers, Oklahoma City Thunder and New York Knicks completed a three-team trade involving six players on Monday, with the injury-hit Cavs (19-16) acquiring guards Iman Shumpert and J.R. Smith from the Knicks.
Cleveland announced they had also received a protected 2015 first-round pick from the Thunder.
In turn, the Cavs sent guard Dion Waiters to the Thunder (17-18), and Lou Amundson and Alex Kirk to the Knicks.
Cleveland also sent a 2019 second-round draft pick to New York.
The Knicks, out of playoff contention at 5-32, also got forward Lance Thomas from Oklahoma City.
Waiters, the fourth pick in the 2012 draft, has averaged 10.5 points for the Cavs this season.
He joins a Thunder team who have moved into playoff contention in the powerful Western Conference since reigning NBA MVP Kevin Durant returned after missing the first 17 games of the season.
“Dion provides another proven scorer that positively impacts our roster and adds depth and flexibility,” Thunder General Manager Sam Presti said in a statement.
Waiters leaves behind a Cleveland team that started the season strongly but have lost five of their last six games.
Brazilian center Anderson Varejao is out for the rest of the season with a torn Achilles, while LeBron James and Kyrie Irving have missed games recently due to niggling injuries.
“With their size and versatility, we think both Iman and J.R. can help our team on both ends of the court,” said Cleveland General Manager David Griffin.
Reporting by Andrew Both in Cary, North Carolina; Editing by Peter Rutherford